On Sunday, Prime Minister Narendra Modi dedicated to the nation 75 Digital Banking Units, including two of Jammu and Kashmir Bank’s units.
It is important to note that Jammu and Kashmir Bank has two Digital Banking Units (DBUs); one is located at the SSI branch at Lal Chowk in Srinagar, and the other is located at the Channi Rama branch in Jammu.
In the Valley as part of the third phase of the central government’s public outreach program, Union Minister of State for Education Subhas Sarkar attended the function at Lal Chowk here.
They added that Farooq Abdullah, the National Conference’s president, was also present on the occasion.
As part of the Union Budget 2022-23, Finance Minister Nirmala Sitharaman announced the establishment of 75 DBUs throughout the country to commemorate Indian independence’s 75th anniversary.
The 75 Digital Banking Units will further financial inclusion & enhance banking experience for citizens. https://t.co/gL4lEE6b7d
— Narendra Modi (@narendramodi) October 16, 2022
It is the objective of the DBUs to ensure that the benefits of digital banking are accessible to all corners of the country.
This initiative is being undertaken by 11 public sector banks, 12 private sector banks, and one small finance bank.
DBUs will provide people with a variety of digital banking facilities such as opening a savings account, checking account balances, printing passbooks, transferring funds, investing in fixed deposits, applying for loans, applying for credit or debit cards, and paying bills and taxes.